NWBI vs. LMT

Last updated Jun 4, 2026

NWBI (Northwest Bancshares, Inc.) and LMT (Lockheed Martin Corporation) are both stocks. NWBI operates in Banks - Regional (Financial Services), while LMT operates in Aerospace & Defense (Industrials). Over the past 10 years, NWBI returned 5.03%/yr vs 10.81%/yr for LMT. At a 0.22 correlation, their price movements are largely independent.

Performance

NWBI vs. LMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Northwest Bancshares, Inc. (NWBI) and Lockheed Martin Corporation (LMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NWBI achieves a 18.42% return, which is significantly higher than LMT's 7.12% return. Over the past 10 years, NWBI has underperformed LMT with an annualized return of 5.03%, while LMT has yielded a comparatively higher 10.81% annualized return.

NWBI

• 1D: -2.54%
• 1M: 1.59%
• YTD: 18.42%
• 6M: 13.96%
• 1Y: 20.03%
• 3Y*: 13.85%
• 5Y*: 5.78%
• 10Y*: 5.03%

LMT

• 1D: -0.27%
• 1M: -0.53%
• YTD: 7.12%
• 6M: 15.96%
• 1Y: 9.51%
• 3Y*: 6.88%
• 5Y*: 8.25%
• 10Y*: 10.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NWBI vs. LMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NWBI Northwest Bancshares, Inc.	18.42%	-2.86%	12.66%	-4.38%	4.60%	17.77%	-18.03%	2.36%	5.40%	-3.53%
LMT Lockheed Martin Corporation	7.12%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%

Correlation

The correlation between NWBI and LMT is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 9, 1994	0.22

The correlation between NWBI and LMT shifts across timeframes, from 0.07 (1 year) to 0.25 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NWBI : $2.03B LMT : $118.33B
EPS NWBI : $0.95 LMT : $20.61
PE Ratio NWBI : 14.59 LMT : 24.84
PS Ratio NWBI : 2.23 LMT : 1.59
PB Ratio NWBI : 1.06 LMT : 15.80
Total Revenue (TTM) NWBI : $869.92M LMT : $75.12B
Gross Profit (TTM) NWBI : $451.19M LMT : $7.37B
EBITDA (TTM) NWBI : $112.56M LMT : $8.09B

Return for Risk

NWBI vs. LMT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NWBI

NWBI Risk / Return Rank: 65
NWBI Sharpe Ratio Rank: 67
NWBI Sortino Ratio Rank: 62
NWBI Omega Ratio Rank: 60
NWBI Calmar Ratio Rank: 68
NWBI Martin Ratio Rank: 67

LMT

LMT Risk / Return Rank: 49
LMT Sharpe Ratio Rank: 53
LMT Sortino Ratio Rank: 45
LMT Omega Ratio Rank: 46
LMT Calmar Ratio Rank: 49
LMT Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NWBI vs. LMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Northwest Bancshares, Inc. (NWBI) and Lockheed Martin Corporation (LMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NWBI	LMT	Difference
Sharpe ratio Return per unit of total volatility	0.84	0.36	+0.48
Sortino ratio Return per unit of downside risk	1.36	0.64	+0.72
Omega ratio Gain probability vs. loss probability	1.16	1.09	+0.08
Calmar ratio Return relative to maximum drawdown	1.44	0.38	+1.06
Martin ratio Return relative to average drawdown	3.21	0.93	+2.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NWBI vs. LMT - Sharpe Ratio Comparison

The current NWBI Sharpe Ratio is 0.84, which is higher than the LMT Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of NWBI and LMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NWBI	LMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	0.36	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.36	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.46	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.38	-0.06

Drawdowns

NWBI vs. LMT - Drawdown Comparison

The maximum NWBI drawdown since its inception was -64.95%, smaller than the maximum LMT drawdown of -79.29%. Use the drawdown chart below to compare losses from any high point for NWBI and LMT.

Drawdown Indicators

	NWBI	LMT	Difference
Max Drawdown Largest peak-to-trough decline	-64.95%	-79.29%	+14.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.97%	-25.15%	+11.18%
Max Drawdown (3Y) Largest decline over 3 years	-26.56%	-31.79%	+5.23%
Max Drawdown (5Y) Largest decline over 5 years	-32.59%	-31.79%	-0.80%
Max Drawdown (10Y) Largest decline over 10 years	-48.65%	-36.67%	-11.98%
Current Drawdown Current decline from peak	-2.54%	-23.84%	+21.30%
Average Drawdown Average peak-to-trough decline	-14.66%	-26.84%	+12.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.26%	10.22%	-3.96%

Volatility

NWBI vs. LMT - Volatility Comparison

Northwest Bancshares, Inc. (NWBI) and Lockheed Martin Corporation (LMT) have volatilities of 5.67% and 5.45%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NWBI	LMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	5.45%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	15.45%	19.56%	-4.11%
Volatility (1Y) Calculated over the trailing 1-year period	23.97%	26.54%	-2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.41%	22.89%	+2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.63%	23.71%	+2.92%

Dividends

NWBI vs. LMT - Dividend Comparison

NWBI's dividend yield for the trailing twelve months is around 5.80%, more than LMT's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LMT Lockheed Martin Corporation	2.67%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%
NWBI Northwest Bancshares, Inc.	5.80%	6.67%	6.07%	6.41%	5.72%	5.58%	5.97%	4.33%	4.01%	3.83%	3.33%	4.18%

Financials

NWBI vs. LMT - Profitability Comparison

The chart below illustrates the profitability comparison between Northwest Bancshares, Inc. and Lockheed Martin Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NWBI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Northwest Bancshares, Inc. reported a gross profit of 0.00 and revenue of 201.55M. Therefore, the gross margin over that period was 0.0%.

LMT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported a gross profit of 2.08B and revenue of 18.02B. Therefore, the gross margin over that period was 11.5%.

NWBI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Northwest Bancshares, Inc. reported an operating income of 3.21M and revenue of 201.55M, resulting in an operating margin of 1.6%.

LMT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported an operating income of 2.06B and revenue of 18.02B, resulting in an operating margin of 11.5%.

NWBI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Northwest Bancshares, Inc. reported a net income of 50.54M and revenue of 201.55M, resulting in a net margin of 25.1%.

LMT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Lockheed Martin Corporation reported a net income of 1.49B and revenue of 18.02B, resulting in a net margin of 8.3%.

Frequently Asked Questions

Can I hold both NWBI and LMT in my portfolio?

NWBI and LMT have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWBI or LMT?

NWBI has higher volatility (5.67%) compared to LMT (5.45%). In terms of maximum drawdown, NWBI dropped -64.95% vs LMT's -79.29%.

Which has better risk-adjusted returns?

NWBI currently has the higher Sharpe Ratio (0.84 vs 0.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.